Chart courtesy of StockCharts.com.
The Dow is currently in the process of completing an engrbytrade Eight Point Trading ModelTM structure as shown in the chart above. In the past this structure has typically been seen as a recurring event within futures market intraday structures. One example would be the S&P500 one hour chart between March 29, 2022 and April 25, 2022. Based on the structure shown below, a sharp decline in the Dow to 25,377 is expected upon completing the move between point 7 and point 8.
